Partners Carrie Byrnes and Jorge Leon were featured in the Employee Benefit Adviser article "Retirement plan rollover rules relaxed" on September 1, 2016.
"When taking a distribution from a retirement plan (including a pension, 401(k), 403(b) or 457(b) plan) or IRA, certain provisions of the Internal Revenue Code provide that any amount distributed will be excluded from the distributee’s gross income if it is transferred to an eligible retirement plan no later than 60 days following receipt. This means that if a plan participant elects to have a check issued to him or her to pass along to an eligible retirement plan, including a new employer’s retirement plan or an IRA provider, the amount will not be included in the individual’s taxable income if he or she deposits the check in the eligible plan within 60 days. This is an alternative to the direct rollover option, which involves having the funds transferred directly to the new plan in a trust-to-trust transfer."
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